By GEOFF SENESCALL
A bitter row between Ming Shan Sharebrokers and Nick Harriman has broken out afresh over a damning public statement about the former employee.
In a paid advertisement in the New Zealand Herald, Ming Shan has accused Mr Harriman of having acted improperly and is asking for the return of
property and money within seven days.
Ming Shan also threatened to sue Mr Harriman if he approached the broker's clients within six months of leaving the firm.
Furthermore, it said it had cancelled Mr Harriman's sharebroker's licence.
Mr Harriman last night declined to be drawn into a public battle over the remarks. But he said the matter was now in the hands of his lawyer.
He also added that he was still a member of the stock exchange. This was backed up by the exchange's managing director, Bill Foster, who said: "We have no problem with Mr Harriman's membership."
Mr Harriman has already taken out a personal grievance case against Ming Shan after his dismissal as managing director of the firm in August. The matter is currently before the Employment Court.
His problems with Ming Shan began when Taiyuan Ma tried to take over the office when his brother Weinan Ma was incarcerated in a Shanghai detention centre earlier this year.
Weinan Ma, who operated a wool business in China, was detained for fraudulent use of a letter of credit.
Question marks over Ming Shan's ownership led to the stock exchange suspending it from trading.
The exchange later terminated its membership after Mr Harriman left after five years with the company.
It was Mr Harriman's membership which had allowed Ming Shan to trade in its own right.
Since Mr Harriman's departure several Ming Shan employees have left to form their own firm using broker Frater Williams to transact the orders.
Ming Shan is still operating. It is trading through stock exchange member DF Mainland on an agency basis.
